Gold no breakout yet

The price movement of gold continues trading sideway inside the triangle pattern and near the $1,950 level. At the end of the previous week, gold prices close near the $1,950 and expected to continue the ranging movement this week. Traders will continue waiting for a breakout from the triangle area for now.

Today critical levels to watch:

Support: $1,900, $1,800

Resistance: $1,950, $2,000, $2,050

Silver continue ranging

There was a bearish attempt toward the $26.00 support level last week. The price of silver traded lower and tested the level near $26.00. We have a bullish reaction from the support level but there is no change to the current outlook. Silver prices are expected to continue trading sideways inside the triangle pattern and near the $26.00 level this week.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00, $31.50

Crude oil closed above $40.00

We have a close above $40.00 which might cancel the bearish outlook in the crude oil prices. Previously, the price fell and closed below $38.50. It was a strong bearish indication but the price decided to move to the other side. This week, crude oil is expected to maintain the positions above $40.00 and continue its bullish trend.

Today critical level to watch:

Support: $40.00, $38.50, $33.00, $30.00

Resistance: $49.00, $50.00